Warren Buffett just shared something important in his latest letter to shareholders – he talks about his Will with his children before signing it. This is very different from what most Asian parents do. Many don’t tell their kids about their Will, thinking it will cause family fights or bad luck. Some believe if they...
When I first read Die with Zero by Bill Perkins, it challenged everything I believed about money. Instead of saving endlessly, he suggests spending wisely while we’re alive to enjoy life, rather than leaving behind unused wealth. At first, it sounded reckless—shouldn’t we save for the future? But then I realized: enjoying life and smart...
I sat down in my reading room and picked up The 7 Habits of Highly Effective People by Stephen Covey while sipping a cup of coffee. I came across an interesting philosophy from his book: a farmer kills the goose that lays golden eggs in an attempt to get all the eggs at once, ultimately...
We often hear our parents tell their friends or relatives, “If I pass away, I’ve already told my sister to take care of my son.” But do we really understand what guardianship means, the role it plays, and what factors we need to consider when appointing a guardian for our children? First, let me explain...
A lot of us take loans to buy houses, cars, or invest in something, right? It’s normal because loans help us grow our assets faster. But here’s the thing—many people only think about passing their assets to their family and forget about the debts that come with them. If you don’t plan properly, this could...
Can you imagine one day becoming a director of a private limited company (Sdn. Bhd.) with your business partner? You hold 60% of the shares in the company, while your partner holds 40%. Now, you’re thinking of preparing an exit plan because you want the company to continue running smoothly without you. You’re considering leaving...
One of my relatives, Sara, is a retiree, aged 62 and single. During our conversation, she shared that she has approximately RM100,000 in cash and a condominium worth RM700,000. She also spends RM2,500 a month on living expenses, which includes paying for two life insurance policies (covering critical illness and life insurance) with a combined...
Recently, I met with a single-parent family with a 13-year-old son and a 10-year-old daughter. The daughter was diagnosed with Fragile X syndrome, which affects her brain development and learning abilities. The family has RM100,000 in cash, two life insurance policies for the children, and a terrace house where they live. The mother wishes to...
When assisting clients with their estate planning, we first study the client’s background, assets, and liabilities in detail. I recently met a client who is a successful businessman and investor. He has built a portfolio consisting of stocks, cryptocurrencies, and properties worth over RM3 million, plus RM500,000 in cash. Despite accumulating such personal wealth, he...
“I’m Mr. Wong, 55 years old, and I have been invested in the world of cryptocurrency for some time now. Over the years, I’ve accumulated a significant amount of digital assets and firmly believe in their long-term value. My concern is how to ensure these assets are properly passed down to my son, Adam, after...
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